The Reserve Bank of India (RBI) on Wednesday gave banks time till October 31 to comply with its guidelines on current account and overdraft facilities. The central bank indicated that it was in no mood to change the proposed rules, but would only allow for stretching the timeline for smoother implementation. The initial deadline had ended on July 31, leading to thousands of current accounts being closed or frozen by banks. Lenders had requested the RBI for some more time to resolve the operational issues in implementing the provisions of the August 2020 circular in letter and spirit.
The first half of 2019-20 will be under pressure, since prices are expected to go up by Rs 7,000-8,000 at a time when sentiment is poor.
A glance back at some of the important ups and down Indian Inc faced in 2018.
Officials said Sebi first proposed to the FinMin to amend the relevant provisions in the Sebi Act to discontinue RBI's representation on its board, as it already has adequate presence of government nominees and in its over 25 years of existence the regulator has evolved as an "effective and one of the best in the world".
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Go for high quality and low-to-medium-duration funds in your debt portfolio
The 50-share NSE Nifty gained 53.30 points or 0.61 per cent to 8,778.
'Common sense says if one can afford, servicing the loans during this period is a better bet than postponing it by three months,' says Tamal Bandyopadhyay.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Promoters' holding in private sector BSE 500 companies declined to 43.4% in Sept
'As a donor, you may think you are saving one life. But you touch the lives of the entire family and community associated with the person. And it only cost you a few hours of your life.'
Loan rates will change at the next reset, while deposit rates will continue till maturity.
Brokers also want tax rebates, removal of additional tax on dividends, streamlining of GST...
The chairman's post will soon fall vacant, but that's not the only one that needs to be filled.
Despite returns from gold down over 5% in the past three months, it is a good idea to keep this asset class in your portfolio.
A downturn in Indian demand could hit global gold prices.
The second fortnight of September saw Rs 3 lakh crore of time deposits, something unique, followed by liquidation of Rs 1.2 lakh crpre of these right after.
India has been probing hundreds of black money cases.
'It is especially discouraging for young people in the development sector. I've noticed that many of them are actively considering other career options to escape this atmosphere.' Geetanjali Krishna reports.
Analysts expect RBI to restore 100-bp corridor in Tuesday's policy review.
Modi, upon arrival, was received by External Affairs Minister Sushma Swaraj.
The BRICS stressed on resolution of conflicts in a declaration issued after a virtual meeting of foreign ministers of the member nations of the grouping. The meeting was attended by External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi.
Only in case of equities will the nominee will automatically get the money.
India's five leading wilful defaulters are Winsome Diamonds & Jewellery Ltd and associate Forever Precious Jewellery & Diamonds, Zoom Developers, Kingfisher Airlines, Beta Naphthol and Raza Textiles
23 Yards will include body wash, beard oil, shaving gel, deodorant and sanitizer.
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
'Will people who buy iPhones stop buying iPhones to help swadeshi models?' 'There should be some advantage for the consumer to make them buy a Made in India product.' 'Patriotism and nationalism are good words, but in business, it won't work.'
Nifty September F&O series ended lower after seven consecutive positive series with Metal Index falling the most
HDFC, TCS, RIL, ITC and ICICI Bank dragged the Sensex by over 100 points.
A high fashion event can teach you a thing or two about money matters! Intrigued? Then read on to find out more!
News of all that transpired on and off the football field.
'But Russia is well aware of Pakistan's nuisance power on its border.'
These individuals largely include businessmen associated with companies, including the dummy ones, in sectors ranging from real estate, financial services, technology and telecom to paints, home decoration, textiles, engineering goods, gems and jewellery. Several of these persons and their companies are said to be based in Kolkata, Gujarat, Bengaluru, Delhi and Mumbai.
Australia's Prime Minister Tony Abbott on Friday said he will sign an agreement with India to sell uranium for non-weapon use. "Prime Minister Modi and I will today sign a nuclear cooperation agreement that will finally allow Australian uranium to India," he said while addressing a meeting, organised by industry chambers including CII and Ficci.
'If the RBI blesses us with a banking licence, we would like to launch a successful bank.'
'Decisions on nuclear power have so far been taken by a small select group, primarily interested in profiteering from their actions, stating 'secrecy' as necessary from the national security point.' 'This argument is false, because we are dealing with the 'civilian' nuclear power sector, which is open even to the IAEA,' says Dr A Gopalakrishnan, former chairman of the Atomic Energy Regulatory Board.
With the July 1 deadline to apply for bank licence fast approaching, aspirants are scrambling to meet the Reserve Bank of India's (RBI) eligibility criteria to apply.
Persistent efforts by the Board of Control for Cricket in India and its full members to block implementation of some crucial recommendations of the Justice Rajendra Mal Lodha committee on Wednesday provoked the Supreme Court to observe that public functions relating to cricket can be taken over by the government with the enactment of a law in Parliament.
If new goals have emerged, this is the time to make fresh investments.
Earning returns from an asset lying idle can be a good option in times of volatility.
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